GREY:BNPUF - Post by User
Comment by
oilyexecon Mar 08, 2018 8:05am
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Post# 27681279
RE:Low market cap here, great assets,great position
RE:Low market cap here, great assets,great positionpatricia123 wrote; "Natural gas has bottomed,oil will consolidate here". I sure hope your crystal ball is correct.
The market is waiting for summer AECO to go sub $1 and Station 2 to go negative (again). Cdn gas production y-o-y is up 1 BCFD and Cdn storage is +25 BCF to 5 year average. Cdn demand is also up 1BCFD thanks to new oilsands coming on-line (1mmbtu/bbl). Cdn gas rig count is down 39% y-o-y (140 to 100).
Oil is over bullish with long:short ratio for commercials = 16. Only one way for oil to go. Shake out the excess longs and test $58.